the mission driven startup
TRANSCRIPT
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THE MISSION DRIVEN STARTUP
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HOW BUILDING YOUR CULTURE
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AROUND YOUR CAUSE
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CREATES A PRODUCT
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THAT GROW ITSELF
FIRST INTRODUCTIONS
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INTROS
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WHAT IS A MISSION DRIVEN
STARTUP ?
WHAT IS A MISSION DRIVEN STARTUP ? MISSION DRIVEN GROWTH
MISSION DRIVEN VALUES MISSION DRIVEN CULTURE MISSION DRIVEN METRICS
MISSION DRIVEN OUTCOMES
DEFINITION
ALL STARTUPS START BY SOLVING A PROBLEM
TRANSFERWISE WAS STARTED TO SOLVE A PROBLEM
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IN OUR CASE A PERSONAL PAIN POINT HELPED TO SEE AN EPIDEMIC DYSFUNCTION IN
THE ENTIRE INDUSTRY, WHICH LACKED ANY NATURAL FORCE OF IMPROVEMENT OR MOVE
TOWARDS RESOLUTION. — KRISTO KÄÄRMANN & TAAVET HINRIKUS @nilanp@nilanp
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PROVE IT
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“We will ask the FCA to ensure that nobody uses misleading terms such as ‘free’ and ‘0% commission’ when fees are hidden in the rates being charged”
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PROJECT ROBIN HOOD
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WHY DO WE NEED TO GO TO SUCH EXTREMES ?
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A BANK COULD HAVE STARTED TRANSFERWISE AT ANY POINT IN THE
LAST 100 YEARS
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BUILDING TRUST IN AN INDUSTRY THAT HAS SYSTEMICALLY ERODED IT
REQUIRES EXTREMES
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MISSION DRIVEN GROWTH
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EVANGELISM IS THE BIGGEST DRIVER OF GROWTH
WE BELIEVE WE CAN CREATE EVANGELICAL CUSTOMERS
SO WHY DO PEOPLE RECOMMEND OUR PRODUCT ?
RATIONALRATIONAL EMOTIONAL
RATIONALPRODUCT BRAND
RATIONALSPEED CONVENIENCE PRICE COVERAGE
BRAND
TO ACHIEVE ADVOCACY YOUR PRODUCT NEEDS TO BE AN ORDER OF MAGNITUDE
BETTER THAN THE ALTERNATIVE
BUT DON’T DO THIS AS “GROWTH HACK” DO IT BECAUSE THE WORLD
DESERVES IT
RATIONALSPEED CONVENIENCE PRICE COVERAGE
BRAND
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PEOPLE DO NOT TALK ABOUT MONEY TRANSFER IN THE PUB
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GIVE YOUR CUSTOMERS STORIES TO TELL
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INSPIRE PEOPLE WITH YOUR CAUSE AND YOU WILL CREATE A MOVEMENT BIGGER
THAN YOUR STARTUP
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You can’t copy that !
MISSION DRIVEN CULTURE
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OBJECTIVE : INSPIRE PEOPLE WITH THE MISSION
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WE WORK IN AUTONOMOUS INDEPENDENT TEAMS THAT
FOCUS ON KPIS THAT MAKE A DIFFERENCE TO OUR
CUSTOMERS AND DRIVE OUR GROWTH
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THE CURRENCIES TEAM WORKS ON LAUNCHING NEW CURRENCIES
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IT IS AUTONOMOUS & INDEPENDENT
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Currencies Operations Verification Conversion Experience Virality Marketing
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MISSION DRIVEN VALUES : CUSTOMERS > TEAM > EGO
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WEAK PRODUCT OWNERSHIP
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EVERY PART OF THE PRODUCT IS OWNED
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ANY TEAM CAN CHANGE ANY PART OF THE PRODUCT
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MARKETING
PRODUCT
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WHAT HAPPENS WHEN YOU HAVE DISAGREEMENTS ?
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ACCOUNT PAGE PIC
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ACCOUNT PAGE PIC
TITLE TEXT
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FOCUS ON CUSTOMERS
MISSION DRIVEN METRICS
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#HAPPYCUSTOMERS
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#UNHAPPYCUSTOMERS
MISSION DRIVEN METRICS - NPS
Would you recommend us to your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Would you recommend us to your friends?
1 2 3 4 5 6 7 8 9 10
Detractors Neutral Promoters
Total
Promoters - Detractors
= NPS
If promoters > detractors you WILL
grow
N.B. This is fucking hard.
It works ! (But barely)
It works ! (But barely)
It works withno significant issues !
It works ! (But barely)
It works withno significant issues !
It works. Wow that was slick
It works ! (But barely)
It works with no significant issues !
It works. Wow that was slick
You’ve just blown my socks off that was fucking incredible
MISSION DRIVEN OUTCOMES
ONWARDS@nilanp